(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock indexes rose on Monday, after a disappointing U.S. jobs report on Friday hardened views that the Federal Reserve will not raise interest rates this year. The Dow Jones industrial average was up 1.83 percent at 16,773.06, the S&P 500 was up 1.85 percent at 1,987.39 and the Nasdaq Composite was up 1.60 percent at 4,782.995.
** GENERAL ELECTRIC CO, $27.15, +6.60 pct
Nelson Peltz’s Trian Fund Management said it had bought $2.5 billion in shares of the industrial conglomerate since May, making it one of the company’s top 10 shareholders. GE is now Trian’s largest investment with a beneficial ownership of 98.5 million shares, or a roughly 1 percent stake.
** CONOCOPHILLIPS, $52.68, +2.91 pct
** CHEVRON CORP, $83.901, +2.88 pct
** COMSTOCK RESOURCES INC, $2.54, +15.98 pct
** BASIC ENERGY SERVICES INC, $4.12, +20.12 pct
** DENBURY RESOURCES INC, $3.29, +16.25 pct
** SCHLUMBERGER LTD, $72.36, +2.90 pct
Oil prices rose more than 3 percent, bolstered by a rally in U.S. gasoline and Russia’s willingness to meet other major oil producers to discuss the market.
** NASDAQ BIOTECHNOLOGY INDEX, $3,271.22, -0.96 pct
** S&P 500 HEALTHCARE SECTOR INDEX $789.14, +0.02 pct
Biotechnology and broader healthcare sector stocks declined on Monday after the industry complained that the Trans-Pacific Partnership agreement fell short on patent protection for drugs.
The Trans-Pacific Partnership is the most ambitious trade pact in a generation and could reshape industries and influence the cost of products from cheese to cancer treatments, presenting key issues also for drug companies and automakers.
** DRDGOLD LTD, $1.59, +7.43 pct
** HARMONY GOLD MINING COMPANY LTD, $0.6378, +4.64 pct
** SIBANYE GOLD LTD, $5.39, +8.02 pct
** PRIMERO MINING CORP, $2.51, +2.87 pct
** KINROSS GOLD CORP, $1.97, +7.65 pct
Gold rose as the dollar weakened after a disappointing U.S. jobs report pushed back expectations of a Federal Reserve rate rise to early 2016.
** REPUBLIC AIRWAYS HOLDINGS INC, $6.46, +7.49 pct
** SKYWEST INC, $17.27, +4.35 pct
** COPA HOLDINGS SA, $46.3, +5.23 pct
** AMERICAN AIR LINES GROUP INC, $40.2, +4.06 pct
** SPIRIT AIRLINES INC, $49.24, +3.23 pct
** DELTA AIR LINES INC, $46.865, +4.45 pct
Brokerage Cowen and Co said “market continues to ignore” airline margin improvements, citing capacity reductions as well as benefits from lower jet fuel costs due to low oil prices.
** STURM RUGER & CO INC, $46.865, +4.45 pct
** SMITH & WESSON, $17.8, +7.23 pct
U.S. Democratic presidential candidate Hillary Clinton said on Monday that, if elected, she would use the power of her office to curb gun violence if necessary. She called for expanding background checks and making it easier to hold negligent manufacturers and dealers accountable.
Demand for firearms surged in the past when consumers feared gun control legislation was coming.
** WAVE SYSTEMS CORP, $0.1799, +5.82 pct
The security systems provider signed a three-year license and distribution agreement with chip distributor Silicon Application Corp Group for Wave’s Trusted Platform Module management software.
** YULONG ECO-MATERIALS LTD, $2.55, +8.51 pct
The building products and construction waste recycling company won an exclusive 25-year contract from Shangqiu City in China’s Henan Province to haul and recycle construction waste.
** CIPHER PHARMACEUTICALS INC, $4.64, +18.84 pct
The Canadian drug developer, along with Sun Pharma’s unit Ranbaxy Pharmaceuticals Inc and Galephar Pharmaceutical Research Inc, settled patent litigation with Actavis, which is now Allergan Plc.
** ACORDA THERAPEUTICS INC, $31.75, +13.19 pct
The drug developer said it entered into a settlement agreement with Allergan Plc to resolve pending patent litigation by company against Allergan seeking marketing approval for Ampyra.
** SPARK THERAPEUTICS INC, $53.5777, +21.96 pct
The drug developer said its experimental gene therapy met its main goal of improving vision in patients with a type of inherited eye disorder, in late-stage study.
** TWITTER INC, $27.842, +5.82 pct
The microblogging service company named interim Chief Executive Jack Dorsey as its permanent CEO. Dorsey has served as interim CEO for the past three months, after Dick Costolo stepped down on July 1.
** CONTRAVIR PHARMACEUTICALS INC, $4.18, +98.10 pct
The drug developer said preliminary data showed that its experimental drug was found to be 60 times more active against hepatitis B virus when compared with Gilead Sciences’ Viread, in a study. The drug, CMX157, has potential to reduce side effects when compared with Viread, the company said.
** MICRON TECHNOLOGY INC, $17.6966, +11.23 pct
The company’s stock has bounced more than 20-percent over last 2-sessions, its biggest such move since November 2011, after the memory chipmaker’s fourth-quarter results soothed investors’ nerves.
** WILLBROS GROUP INC, $1.95, +37.32 pct
Engineering, consulting and construction management services provider TRC Cos Inc will buy Willbros’ professional services business for $130 million. Part of the proceeds will be used to reduce term loan debt.
** FUELCELL ENERGY INC, $0.83, +13.61 pct
The fuel cell maker announced the completion of awards from the U.S. Department of Energy for four previously disclosed projects.
** ALCOA INC, $10.39, +9.14 pct
The aluminum producer said it signed a contract worth about $1 billion with Airbus Group for multi-material aerospace fastening systems.
** J2 GLOBAL INC, $74.56, +4.29 pct
The cloud-based telecom services provider raised the top end of its full-year profit and revenue forecast, citing acquisitions. The company said it completed 20 acquisitions this year, deploying about $265 million of capital, and it continues to pursue long-term acquisition strategy.
** BRINK‘S CO, $29.6, +4.19 pct
Activist investor Starboard Value LP said it raised its stake in the provider of cash transportation and ATM services, to about 12.4 percent. Starboard, Brink’s largest shareholder, had reported a 9 percent stake in the company in July.
** ANI PHARMACEUTICALS INC, $47.982, +10.00 pct
The generic drug maker said its board authorized share buyback of up to $25 million.
** SANDRIDGE ENERGY INC, $0.4081, +13.99 pct
The oil and gas producer is to buy gathering and compression company Pinon Gathering Co LLC from EIG Global Energy Partners. SandRidge said the deal is for $48 million in cash and $78 million of 8.75 percent senior secured notes due 2020.
** SUNEDISON INC, $37.84, +4.19 pct
The U.S. solar company will focus on high profit-potential markets such as U.S., India, China and Latin America. The company will simplify business structure by removing duplicate activities created due to recent M&A activities.
** SIENTRA INC, $8.16, -21.31 pct
The breast implant maker said that Brazilian regulatory agencies have temporarily suspended the manufacturing of all medical devices made by Silimed, one of Sientra’s contract manufacturers.
** TENET HEALTHCARE CORP, $37.84, +4.19 pct
Shares of the third-largest U.S. hospital operator could rally to low-$40s for a gain of about 15 percent, financial newspaper Barron’s said on Saturday. The company will benefit from acquisition of hospital operator Vanguard Health and a majority stake in United Surgical Partners, the report said.
** DOW CHEMICAL CO, $46.06, +3.62 pct
Dow said it expects a share exchange offer in connection with the sale of most of its chlorine business to return about $1.5 billion in value to shareholders.
** ALCOA INC, $10.39, +9.14 pct
Alcoa said it has signed a contract worth about $1 billion with Airbus Group for multi-material aerospace fastening systems.
** FIREEYE INC, $31.7613, -3.93 pct
Piper Jaffray & Co downgraded the cybersecurity software maker’s stock to “neutral” from “overweight” and slashed its price target to $37 from $60. “We are concerned that the recent string of departures could create disruption at the company, potentially impacting product development or sales growth,” Piper analysts wrote.
** CADIZ INC, $0.4081, +13.99 pct
The water and land resource development company said U.S. Bureau of Land Management determined that its proposed use of a portion of the Arizona and California Railroad’s 1875 Act right-of-way for water pipeline would require a permit. The company said it’s in the process of securing legal clarification of its right to access and will continue to complete the remaining milestones for the project.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $165.7, -9.12 pct
New York Times article on Monday likened Valeant’s pricing strategy to that of Martin Shkreli, the controversial chief executive of Tiny Turing Pharmaceuticals, after the small company raised the cost of an old anti-infective drug by more than 5,000 percent.
** ARCELORMITTAL SA, $5.8, +6.42 pct
Citi raised its rating on the steel producer’s stock to “buy” from “sell”. The brokerage said the valuation meant it was worth the risk of being early to upgrade after a 50 percent share price fall since May. (Compiled by Arunima Banerjee in Bengaluru; Editing by Anil D‘Silva)